Hold meeting to involve king in satirical piece (4)
I believe the answer is:
skit
'satirical piece' is the definition.
(I've seen this in another clue)
'hold meeting to involve king' is the wordplay.
'hold meeting' becomes 'sit' (eg a parliament sitting).
'to involve' indicates putting letters inside.
'king' becomes 'K' (abbreviation for king in chess).
'sit' enclosing 'k' is 'SKIT'.
'in' acts as a link.
(Other definitions for skit that I've seen before include "Opportunity to take off" , "Short play which makes fun of something" , "'Short comedy sketch, a parody (4)'" , "Burlesque - parody" , "piece of satire" .)